Telangana registers highest growth rate in tax revenues

Telangana registers highest growth rate in tax revenues
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Hyderabad: Telangana stands first among all states in the country in terms of growth rate in state’s own tax revenues, an official statement said.

With 17.6 per cent growth rate in tax revenues from June 2014 to May 2018, Telangana tops the states, revealed the state government, quoting the information on the official website of the Comptroller and Auditor General.

According to CAG, Telangana has registered the highest growth rate of 17.6 per cent followed by Haryana with 14.2 per cent, Maharashtra with 13.9 per cent, Odisha with 12.4 per cent and West Bengal with 10.3 per cent.

Telangana’s growth rate was 13.7 per cent during 2015-16, 21.1 per cent during 2016-17 and 16.8 per cent during 2017-18.

Chief Minister K. Chandrasekhar Rao said that the progressive financial policies, fiscal discipline, the commitment of the people in paying taxes to the government, resulted in the Telangana state achieving the highest average growth rate.

He said that despite the effects of demonetization and GST on the finances of the state, Telangana could achieve stable growth rate. He also said that the growth rate will also help the government in better implementation of development and welfare programmes in the state.

–IANS